Three-Month HIBOR Futures
|
Underlying Interest Rate
|
Three-Month Hong Kong Interbank Offered Rate |
|
HKATS Code
|
HB3 |
|
Contract Size
|
HK$5,000,000 |
| Minimum Fluctuation |
one (1) basis point (0.01 of a percent)
The value of a Minimum Fluctuation is HK$125.00 calculated as the Contract Size multiplied by a basis point multiplied by one quarter of a year.
HK$5,000,000 x 0.0001 x 0.25 = HK$125.00 |
|
Contract Months
|
Spot month, the next two calendar months and seven quarterly months on the March, June, September, December calendar quarter cycle |
|
Contracted Value
|
Contracted price multiplied by the value of a minimum fluctuation multiplied by 100
[e.g. 95.50 x (HK$5,000,000 x 0.0001 x 0.25) x 100] |
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Price Quotation
|
One hundred (100.00) minus the interest rate |
|
Trading Hours
|
8:30 am - 12:00 noon & 1:30 pm - 5:00 pm
(Expiring contract month closes at 11:00am on the Last Trading Day) |
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Last Trading Day
|
The last trading day of a contract shall be two business days before the third Wednesday of the contract month |
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Final Settlement Day
|
The third Wednesday of the contract month
(If the third Wednesday of such contract month is not a business day, then the final settlement day of the contract shall be the next business day following the third Wednesday of the contract month) |
|
Final Settlement Price
|
One hundred (100.00) minus the three-month HKAB HKD Interest Settlement Rate quoted at approximately 11:15 a.m. on the Last Trading Day, rounded to the nearest 2 decimal places.
(100.00 - HKAB HKD Interest Settlement Rate = Final Settlement Price) |
|
Settlement Method
|
Cash settlement |
|
Transaction Costs |
Exchange Fee HK$5.00
Commission Levy HK$0.80
Commission Rate Negotiable |
HKAB : The Hong Kong Association of Banks
Please visit HKEx website http://www.hkex.com.hk/regulatory.htm for full contract specifications under Trading Rules of the Rules, Regulations and Procedures of the Futures Exchange